He was said to have fleeced his victims of $300,000.
An account takeover occurs when individuals obtain names and identifying information of victims, and then using this information, call the victims' banks and credit card companies pretending to be the real account holders, Reuters reports.
The authorities said Oladokun, 37, took over more than 40 financial accounts fraudulently, according to an online publication, African Outlook. He was accused to have also used, possessed, or opened the accounts without the victims' authorisation, causing more than $300,000 in losses.
Oladokun, who lived in Lanham, Maryland, pleaded guilty in February to a charge of aggravated identity theft.
He was sentenced on Friday by Judge Ellen S. Huvelle in the U.S. District Court for the District of Columbia. In addition to the prison term, the judge ordered Oladokun to pay restitution of $269,304.
Oladokun will also be on one year of supervised release upon completion of the prison term.
The sentence was announced by U.S. Attorney Ronald C. Machen Jr.; James W. McJunkin, Assistant Director in Charge of the FBI's Washington Field Office; Daniel S. Cortez, Inspector in Charge, Washington Division, U.S. Postal Inspection Service; and David Beach, Special Agent in Charge, Washington Field Office, U.S. Secret Service.
According to the government's evidence, Oladokun and others engaged in a scheme to defraud bank and credit card companies through an account takeover scheme.
Once in possession of the victims' checks and/or credit cards, Oladokun and others engaged in financial transactions such as buying goods and services, depositing the bank cheques into accounts opened in the names of other victims, cashing cheques, and purchasing money orders.
From July 2008 to August 2010, the defendant was involved with account takeovers of numerous financial accounts. Banks, credit card companies, and others suffered losses with respect to these accounts in the approximate total amount of $301,431, although some money was later recovered.
Oladokun admitted in court that he engaged in identity theft, knowing that the victims were actual persons
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